CRIF obtains a license to operate a private credit bureau in Indonesia through its affiliate company PT CLIK
Based on existing regulations, the Financial Services Authority of Indonesia (OJK) has issued a Credit Bureau License to CLIK, an affiliate of CRIF spa and joint venture company with other leading technology and service providers in the Indonesian financial industry (Valdo International, Bintang Mulia Andalan, Global Integrasi prima and Wahyu Kartu).
PT CLIK will start working with the public credit registry (PCR) data, which is currently collected by the OJK. The PCR data and updates will be regularly shared with CLIK. The PCR accounts for hundreds of millions of credit facilities contributed regularly by banks, NBFIs, MFIs, and P2P lenders.
The establishment of a credit bureau will help develop the local credit market, allowing SMEs and consumers to move to a more advanced market based on credit references. At the same time, thanks to the availability of comprehensive and updated credit information, lenders will be able to deliver financial services at significantly reduced costs and expand the credit offer to the consumer and SME segments of the economy.
Leveraging the large dataset and the historical depth of available information, CLIK will be able to deliver a customized bureau score for multiple segments right from the start. Furthermore, taking advantage of the suite of services that CRIF offers in Indonesia, and in more than 50 countries worldwide, CLIK will be equipped with a unique mix of technology, services, skills and datasets, to provide a full range of risk management services to financial institutions across all segments.
“The Credit Bureau represents another important milestone for CRIF in the country’s business development strategy. Since 2013, CRIF has been operating in Indonesia, delivering analytics and software solutions to all segments of the financial industry. CRIF’s presence was consolidated in 2017 through the acquisition of PT Visi Globalindo Data Utama, one of the leading business information providers in the country”, commented Leonardo Lapalorcia, CRIF PT Managing Director.
“The unique market positioning of CRIF in Indonesia today is further strengthened by our group’s growing footprint in the Asia Pacific region, with 1,000 direct employees, 16 companies, and a wealth of customers and experience in each on the geographies it serves”, added Lamberto Barbieri, CRIF Asia Managing Director.